First large-scale airdrop “$WEN” on Jupiter Exchange, Solana network normal operation

JUP airdrop stress test

At midnight on the 27th, a large-scale virtual currency airdrop was held at Solana’s major DEX aggregator “Jupiter Exchange”.

This airdrop is the meme coin “$WEN”, issued by the NFT platform Ovols.

The target recipients of $WEN are the wallet addresses to which Jupiter will airdrop JUP tokens, and approximately 1 million addresses were targeted. 1 address = 643,652 WEN. The current price is about $53.50.

Tokens can be acquired until the 29th, after which time any unacquired tokens will be burned.

$WEN is the first project of Jupiter’s newly established token launchpad “LFG” and is attracting attention from the community.

The $WEN launch is also a stress test for the JUP token launch on February 1st. Regarding JUP, airdrop will be held from 0:00 on February 1st. Centralized exchanges such as Bybit have already announced their listing plans.

Last week, Jupiter launched a “worthless” token called “MockJUP” to test the functionality of its own token launch. The token is currently trading as Jupiter’s meme coin.

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network stability

Following this $WEN launch event, the status of the Solana network is stable and operating normally.

NEW: @solana UPTIME CONTINUES ITS 100% 11-MONTH STREAK – AMIDST @solana MEMECOIN $WEN (@wenwencoin) CLAIM (ELIGIBLE FOR 1M+ WALLETS) LAUNCH pic.twitter.com/zojeT5aZPc

— DEGEN NEWS (@DegenerateNews) January 26, 2024

The Phantom wallet experienced temporary delays due to heavy access, but the BackPack wallet was operating as usual.

This launch assumed access from 1 million wallets, and was also a stress test to see if Solana’s network and Jupiter’s launch page could operate in a stable state. Last year, Solana implemented a fee model called local fees, which was redesigned so that a spike in fees for a particular dApp would not affect the entire network.

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Following the launch of $WEN, Mert, founder of Solana’s RPC node infrastructure Helius, said, “Solana’s TPS has maintained over 1,000 TPS during this period, but we are aiming for 1 million TPS in the future.” said.

Solana TPS is regularly breaking 1,000 TPS (and has reached as high as 2,000)

and these aren’t “simple” transactions either

still many, many more updates coming

the road to 1 million begins pic.twitter.com/xMOfxFDIFc

— mert | helius.dev (@0xMert_) January 26, 2024

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